5 reasons why putting off buying Life Insurance is a bad idea

It might be more affordable next month

It was a weekend ritual for us. Every Sunday we would go out and look at Tv’s. We had decided our old Sony needed a rest and we were going to go for a new flat screen model. Where ever we were we would look at TV’s if passing a store. This went on for 4 years, before i finally decided enough was enough and just went out and bought one. If this had been buying life Insurance would this have been a good idea? No and here and 5 reasons why putting off buying life insurance is a bad idea.

1 – Life Insurance pays out on death

There are sadly no guarantees in life. If during period spent considering buying life insurance, something happens, then no life insurance is paid out. It is not worth taking that financial risk when you are protecting your loved ones. Of course if we all knew the date that we were going to pass away then we could arrange our life insurance in advance of this, but sadly this is not the case.

2 – Life Insurance premiums increase with Age

As you age so does the risk of you passing away. Hence Life Insurance companies factor this into their calculations. Sadly each day we live is one day closer to us dying. What ever type of life insurance policy your are considering will be more expensive if you wait to take it out.

3 – Life Insure cost is related to health

Another factor related to the cost of the premiums is your underlying health. Insurance comma pines rate peoples health on a scale and to obtain the cheapest cost you need to be at the top of this scale. The longer you wait there are chances that your health may change and hence the cost of the life insurance.

4 – Life insurance is affordable

One of the main reasons people put off purchasing life insurance is the perceived cost. It is not expensive and you can see for yourself. Obtain at least life insurance quotes and compare the costs. It will surprise you how inexpensive and affordable life insurance is.

5 – Life Insurance companies need new business

Currently the general rates for life insurance is competitive as with the low interest rates the life insurance companies are seeking new business to improve their bottom line performance. There is no guarantee these interest rates are going to remain low.

There really is no reason to put off purchasing life insurance. The only ones to suffer with this decision would be your loved ones if something happened or you when you compare the cost of the cover in the future.